HIGHLIGHTS:• Revenue rose 9.3% to $26.1 million despite loss of bareboat charter revenue from three chemical tankers leased to BLT• Revenue contribution from chemical tankers to be deployed in the ‘Nordic Siva’ pool and product tanker to…
JACCAR Holdings has helped to build Sinopacific Offshore and Engineering (SOE) into one of China’s leading providers of LPG/LEG vessels, offshore cranes, and offshore production, through its 25% share in the company. JACCAR Holdings has sold its shares to Pearlfine Ocean Worldwide…
The Jotron Group today announces that it will merge their Norwegian companies; Jotron AS, Jotron Phontech AS and Jotron SatCom AS. The name of the new company will be Jotron AS. Kongsberg Maritime has, as previously announced by the 2 companies in March 2012…
Panama Canal proposes tolls adjustments and creates new market segments to reflect real value of the route and better serve its customers.New market segments by vessel type are created and consultation period with interested parties begins.The…
Insurance market, P&I, in flux in the aftermath of 'Costa Concordia' disasterAfter an inauspicious start, 2012 will be another difficult and uncertain year for the maritime industry faced with the aftermath of the Costa Concordia, further problems in the Euro zone…
Forget 2012; work on the funds already awarded. Port terminals risk losing their one last shot at millions in FEMA/DHS Port Security Grant Funds if they don’t act decisively before Sept. 2012. As of Jan. 31, 2012 FEMA reports that the most at-risk port communities in America have banked $303…
Scorpio Tankers Inc. (STNG) is offering a minimum of 3.5 million shares of its common stock in a registered direct placement at a price of $6.75 per share, for which Evercore Group L.L.C. and RS Platou Markets AS are acting as placement agents…
Ship Finance International Limited (NYSE:SFL) has agreed to terminate chartering agreements with Horizon Lines, LLC relating to five of its vessels. Ship Finance will receive as termination compensation $40 million in second lien notes issued…
Houston - Kirby Corporation will announce its 2012 first quarter results at 5:00 p.m. central time on Wednesday, April 25, 2012. A conference call to discuss the results will be held at 10:00 a.m. central time on Thursday, April 26, 2012.The…
Patrick de la Chevardiere, Total CFO, explains financial implications of the Elgin Platform gas leak problemExcerpts from the speech follow:'From an environmental standpoint, it is important to understand that Elgin is a natural gas and condensate field…
An essential part of spring cleaning is sorting through what you have, deciding what needs to be kept, and throwing out what can safely be eliminated. The tidy end result lets you move forward in the best shape possible.An annual “spring cleaning”…
RFQ is First in Two-Step Process to Find Developers to Repurpose America’s Flagship. With all the buzz surrounding the 100th anniversary of the Titanic’s sinking, it’s full steam ahead to give the greatest American ocean liner a new lease on life as a 21st Century waterfront destination…
The Bureau of Ocean Energy Management (BOEM) will hold a series of public scoping meetings to gather information for an environmental impact statement (EIS) for the proposed oil and gas lease sales in Gulf of Mexico’s Eastern Planning Area offshore Florida and Alabama…
Shipping confidence up on expectation of rate increases but new investment appetite wanes. Overall confidence levels in the shipping industry increased slightly in the three months ended February 2012, to reach their highest level since May 2011…
XL Group plc’s North American Marine business has boosted its underwriting expertise with the addition of Chris Cooke who has joined as Vice President, Hull and Liabilities. According to Richard DeSimone, President of XL Group’s North American Marine business…